Journalist China

Telecoms equipment superstar Huawei Technologies appears to be on a major PR and spending blitz to shore up its flagging prospects in Western markets where some question its ties to Beijing. My sources tell me the company has hired a headhunter to find a new top PR manager, undoubtedly to craft a global strategy to convince the world it’s not a wolf in sheep’s clothing waiting to pounce on unsuspecting Western telcos. In a similar vein, Chinese media are reporting the company has just set up an advisory board specifically for the UK market (Chinese article), a move that sounds strikingly similar to its establishment of a board in Australia last month. (previous post) Clearly the establishment of these boards, which is being carefully leaked to the Chinese media, is designed to convince Western governments that Huawei is letting locally-based employees, many of them local citizens, take charge of sales in their markets without interference or direction from headquarters. It’s an interesting strategy that could well work given enough time and resources. Meantime, Chinese media are also reporting that Huawei is raising a massive $1.5 billion in funds. (English article) There’s no mention of what the fund-raising is for, but I wouldn’t be surprised if we see some major announcements in the months ahead of new Huawei plans to build production facilities in Europe and North America, similar to what it previously did in India, to convince local governments it’s purely a business and not an arm of Beijing.

Bottom line: Huawei is stepping up its ongoing PR blitz to convince the West it’s a business and not an agent of Beijing, an interesting strategy that could work given enough time and resources.

电信设备商领域超级巨星–华为技术[HWT.UL]似乎要展开一场耗资巨大的公关战，以改善公司在西方市场黯淡的发展前景，打消西方对於华为与中国政府关系的疑心。有消息人士告诉我，华为聘请猎头为其寻找新的公关最高主管，无疑是为了说服全球，华为并非是一头披着狼皮的羊，等着扑向毫无戒备的西方电信公司。出於同一目的，据中国媒体报导，华为刚刚成立一个专门面向英国市场的顾问组，与上月起在澳大利亚成立顾问组做法雷同。华为通过精心透露给媒体上述消息，是为了说服西方政府，华为是在当地员工（很多是当地人）负责当地的市场销售，总部不会插手或指导。这是一个很有意思的战略，如果给予充分的时间与资源，可能收效甚好。同时，中国媒体还报导，华为正通过基金大规模募资15亿美元，虽然没有提及基金用途，但是未来几个月如果华为宣布欧洲北美建造生产企业，我不会感到意外。之前华为在印度也有类似做法，目的就是说服当地政府，华为只做生意，不是中国政府的工具。

一句话：华为正在加码公关，说服西方国家他们只是一家企业，并非政府特工，给予足够的时间与资源，这个战略应能收得成效。

Related postings 相关文章:

◙ Growth-Addicted Huawei Looks to the Cloud 华为渴求增长上瘾 着眼云计算

◙ Huawei Looks for Growth in IT Services 华为在IT服务领域寻求增长机遇

◙ Huawei: Strength in Separation? 华为：大胆尝试“本土化管理”

Following unimpressive earnings by rival VanceInfo (NYSE: VIT) last week (previous post), IT outsourcing specialist HiSoft (Nasdaq: HSFT) has followed with equally unimpressive outlook for the rest of 2011, reiterating guidance given earlier in the year for a big slowdown in its sector. HiSoft managed to log a solid 45 percent top-line growth for the first quarter, but reiterated guidance for more modest growth of around 30 percent for the full year, indicating a big slowdown may be brewing. (Company announcement) The top line numbers from both HiSoft and VanceInfo look remarkably similar even though HiSoft is much more geographically diversified than VanceInfo, which seems to indicate that global IT spending may be slowing after the big burst of deferred demand during the heady early days of global stimulus packages. At the end of the day, 30 percent growth isn’t all that bad, though investors may have to rethink their expectations for these companies.  In terms of who is better positioned to ride out this slowdown, I would give a decided advantage to HiSoft if it can work through its margin issues brought on by rising costs. HiSoft seems to have a more diversified client base, getting just a fifth of its business from China, which will give it more protection as Beijing slams on the brakes to try and cool its overheating economy. Investors seem to be somewhat undecided, with HiSoft stock down 9 percent during regular Monday trading but then rebounding 17 percent in after hours.

Bottom line: A global slowdown in IT spending is taking a toll on outsourcing firms HiSoft and VanceInfo, with the former better positioned to ride out the downturn.

竞争对手文思信息(VanceInfo)<VIT.N>上周发布表现平平的财报後，IT外包企业海辉软件 (HiSoft)<HSFT.O>对今年余下时间的预期同样平淡无奇。海辉软件一季度净营收增加45%，表现较好，但公司再次强调全年30% 左右的增速预期，显示大减速或在酝酿中。文思与海辉的营收数字非常类似，尽管海辉的市场地域范畴更广泛。这似乎暗示，IT外包需求在早期全球刺激计划带动大爆发後，现在已开始开始逐步放缓。尽管投资者们或许要重新思考对公司的预期，但30%的增长速度当然也不算太差。如果说谁能更好地度过此次减速，我会把这一票投给海辉，当然它还需解决成本上升导致的利润率问题。海辉似乎拥有更加多元化的客户群，其中国业务贡献的收入仅占五分之一，鉴於中国政府对过热经济踩刹车，在中国市场的较低比例应该是一种保护。投资者们似乎还在犹豫，海辉股价周一在正常交易时段大跌9%，但在盘後交易又强力反弹17%。

一句话：全球IT行业开支减速对IT外包公司海辉与文思构成冲击，但海辉似乎更有能力顺利挺过难关。

Related postings 相关文章:

◙ VanceInfo Underwhelms With Latest Results, Guidance 文思创新业绩平淡

◙  Hisoft: Positioned for Japanese Rebound 海辉软件：将受益於日本重建

◙ Mindray, HiSoft See Slowdown in 2011

Money-losing video sharing site Youku (NYSE: YOKU) took a big chance with a massive follow-on offering less than a half year after its original New York IPO. Based on the early reaction, investors seem to be buying into this story despite some signs of doubt. After making its initial $200 million IPO in December and seeing its shares more than double on their debut (English article), the company returned to the market late last week and raised another $530 million by offering shares at a 3 percent discount to the latest market price but still four times the original IPO price. (English article) The stock promptly fell nearly 4 percent to below the offer price as investors finally realized that this company may be just slightly overhyped. All things considered, this new capital raising was a really smart move by Youku and its investors, which took advantage of huge interest in their company by short-term investors to squeeze more money out of them so they could continue to gamble on its stock. If it uses the money to acquire a major rival like Tudou, which is reportedly up for sale (previous post), then so much the better. The only problem is, at some point — probably in the near future — people will grow tired of this stock and realize it’s way overvalued, leading to a sell-off as it sinks to more appropriate levels. When that happens, look for the sell-off to be fast and furious, as the same short-term investors who previously bet on this company to notch big gains become short sellers looking for equally big declines.

Bottom line: Youku was smart to take advantage of investor greed to raise a huge chunk of new cash, but that same greed will ultimately take a toll on its shares when long buyers turn to short sellers.

业绩亏损的优酷<YOKU.N>从不到半年前在纽约上市以来，凭借投资者对视频分享网站的热烈追捧而大捞了一笔。从市场此前的反应看来，虽然坊间存在一些质疑，但投资者对公司描绘的前景非常买账。优酷去年12月首次公开发行(IPO)，首日股价大涨近两倍，筹得2亿美元。上周末，优酷又凭借增发筹得5.3亿美元，虽然其增发价格比最新市场价提供3%折扣，但仍大约相当於最初发行价格的四倍。但当投资者终於发现可能有点高估这家公司後，股价随即比增发价跌去4%。综合考虑各项因素，优酷此次筹资是个相当聪明的举动，因为这一次的筹资，利用了短期投资者对优酷巨大的兴趣，从他们手中吸引到更多投资，牵制住他们，让他们在优酷股票上继续赌下去。如果优酷利用这笔资金并购了一个重量级的对手，譬如待价而沽的土豆网，那就更好了。唯一的问题是——也许在不远的将来–人们可能会这支股票感到厌倦，并发现高估了优酷，然後会在股价向合理价位下跌的进程中抛售。当优酷股价凶猛下跌时，那些早前押注优酷美好前景的短期投资者就会摇身变成做空者，期待从其汹涌跌幅中牟利。

一句话：优酷很聪明地利用投资者的贪婪心理筹到了一大笔钱，但当做多投资者变成做空，优酷也可能会搬起石头砸了自己的脚。

Related postings 相关文章:

◙ Tencent Looks to the Stars to Power Video Dreams 腾讯借力华谊 进军网络视频领域

◙ Youku: Mixed Results Make Management Confident 优酷业绩喜忧参半管理层仍雄心勃勃

◙ Tudou Smells Sweet as Video Sharing Purchase　　土豆网秀色可餐

It’s not exactly news, but the latest 3G mobile statics for April do paint a compelling picture for why China’s mobile landscape is likely to change radically in the next two to three years. The latest data show that China Unicom (NYSE: CHU; HKEx: 762) officially cracked the 20 million barrier for 3G subscribers in April, with its addition of 1.8 million users, while dominant carrier China Mobile (NYSE: CHL; HKEx: 941) added 2.4 million 3G users to reach 29.4 million. China Telecom only releases quarterly numbers, but its 3G base at the end of March stood at 16.4 million, as it added new users at a rate of about 1.3 million a month. I usually don’t like to overwhelm people with numbers, but these figures paint an interesting picture, with China Mobile now controlling 45 percent of the 3G market, to Unicom’s 30 percent and China Telecom’s 25 percent. This ratio is far different from the overall market, which is 70 percent controlled by China Mobile, and is more likely to represent the picture for the next 2-3 years as Unicom and China Telecom aggressively promote their superior 3G networks as China Mobile limps along with its inferior home-grown 3G technology and pressures the regulator to let it roll out a better 4G network sooner rather than later. Of course the regulator will ignore this pressure, as this kind of more balanced market share is exactly what it wants to create a more level playing field and give Chinese consumers a better choice for their mobile service.

Bottom line: China Telecom and Unicom will be strong bets for the next 2-3 years, picking up steady share on China Mobile as Beijing looks to create more balance in its mobile market.

虽然不是什麽新闻了，但最近出炉的3G统计数字的确可以说明，未来两三年中国的移动通信版图可能有巨大变化。数字显示，中国联通<0762.HK> <CHU.N>3G用户在4月正式突破2,000万大关，其中四月新增180万。而行业龙头中国移动<0941.HK><CHL.N>3G用户达到2,940万，其中四月新增240万用户。中国电信仅公布了季度数字，但3月底的数字显示其3G用户达到1,640万，相当於今年一季度每个月增加130万。我通常不喜欢用数字来吓唬人，但这些数字的确描述出了一幅有趣的图景–中国移动占有3G市场45%的份额，中国联通占30%，中国电信占25%。这个比例与总体市场的情况大不相同–中国移动占到总体市场份额的70%。但随着中国联通和中国电信积极推广其占优的3G网络，中国移动则继续受制於其落後的3G技术，这很可能代表了未来两三年的情况。中国移动可能向监管者施压，要求尽快推出4G网络，当然监管者将会无视这种压力，因为监管者所希望看到的正是这种更为平衡的市场格局，好让竞争更为公平，消费者也得以更好地选择他们想要的服务。

一句话：因监管者希望看到市场竞争格局更加平衡，未来两三年，中国电信和中国联通将逐步侵蚀中国移动的市场份额，未来2-3年将有不俗表现。

Related postings 相关文章:

◙ Unicom Calls on BlackBerry – Finally! 联通推出黑莓业务 可望後来居上

◙ Unicom’s Q1 Results Mask Real Cause for Worry 中国联通：一季度财报掩盖真正忧患

◙ China Mobile Adds Alarm to Slow Growth Story　中国移动慢发展的故事上再加新警报

After a spectacular run that saw its stock quadruple last year, cellphone chip designer Spreadtrum (Nasdaq: SPRD) is looking to smartphones for some new excitement to keep its fading growth story alive. Just two weeks after reporting first-quarter earnings that showed sharply slowing growth (results announcement), this dynamic company is trying to wow investors and cellphone makers once more with its roll-out of two new chipsets to cater to the high and low ends of the red-hot smartphone market. (announcement 1; announcement 2)  The move is a shrewd one by CEO Leo Li, who is largely responsible for the company’s huge rally last year as revenue grew by triple digits and margins improved significantly under his team’s new management. Much of the excitement has faded this year, with Spreadtrum’s stock mostly trading sideways as its margin improvement and revenue growth have both tapered off sharply. So, will this new gambit work? In my view, it’s certainly a move in the right direction as most people see the future in smartphones. Of course, the big issue is competition as other, much bigger, companies like Marvell Technology (Nasdaq: MRVL) discovered this space much earlier. Still, Spreadtrum’s ability to move quickly and its home base in China — where many new smartphones are designed, manufactured and ultimately consumed — could work to its advantage. The next quarter or two should tell the story, but I’d bet the company should be able to recapture some, though probably not all, of the growth that made it such a hot ticket in 2010.

Bottom line: Spreadtrum’s gambit on smartphones will bring back some excitement to its stagnating top line, though it will face strong competition from chipmakers already in the space.

手机芯片制造商展讯去年在股市表现超群，股价增加了三倍。如今展讯打算进军智能手机市场，寻找新的增长点，寻求东山再起。两个星期前，展讯公布了傲人的一季度财报。如今这家公司推出了两款新的芯片，以满足高端和低端智能手机市场的需求。这是展讯首席执行官李力游的明智之举。今年展讯股价趋於低迷，因此大家不免猜测，新动作会不会有成效？在我看来，这显然是明智之举，因为大多数人都看好智能手机市场。当然问题在於，像Marvell公司<MRVL.O>这样的竞争者早就发现了这个商机。但展讯具有迅速行动能力，且大本营在中国，这都是优势。究竟结果如何，未来一两个季度将见分晓。但我估计展讯可以重现其在2010年造就的部分辉煌，当然也可能完全不会。

一句话：展讯进军智能手机市场有助於扩大营收，但当然也面临市场中已有竞争者的强劲挑战。

Related postings 相关文章:

◙ Unicom Calls on BlackBerry – Finally! 联通推出黑莓业务 可望後来居上

◙ Baidu-Powered Cellphones? I Don’t Think So 百度也想做手机？恐怕没戏

◙ Wo! China Unicom OS Stumbles Onto the Wire

The following press releases and media reports about Chinese companies were carried on May 21-23. To view a full article or story, click on the link next to the headline.

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◙ Youku (NYSE: YOKU) Announces Pricing of Follow-on Public Offering of Its ADSs (PRNewswire)

◙ LDK Solar (NYSE: LDK) Reiterates Guidance and Announces Date for Q1 Results Report (PRNewswire)

◙ Yingli Green Energy (NYSE: YGE) Reports Q1 Results (PRNewswire)

◙ Dangdang (NYSE: DANG) Announces Q1 Results (PRNewswire)

◙ Camelot Information Systems (NYSE: CIS) Announces Q1 Unaudited Financial Results (PRNewswire)

The cash clock appears to be ticking down for struggling LDK Solar (NYSE: LDK), which has just announced it’s aborting a previous debt raising plan, citing adverse market conditions (company announcement) Indeed, shares of leading solar companies like Trina (NYSE: TSL) and Suntech (NYSE: STP) haven’t fared all that well lately, with both companies’ stock down around 25 percent over the last 3 months, compared with a flat performance for the S&P 500. But LDK’s stock was already down an even steeper 40 percent over that period, and sank another 4 percent after this latest development. My sources have said the company, which already suffers from other issues, needs cash soon, even though its latest announcement says it “still expects to generate sufficient operating cash flow to support our business plan.” With another plan to raise cash through an IPO of its polysilicon assets apparently on hold for the moment, one wonders how long this company will be able to weather its current cash crunch before it’s forced to do something more desperate — perhaps the sale of some assets at a steep discount or perhaps even something more drastic. Stay tuned for more news on this developing saga in the months ahead.

Bottom line: LDK’s aborted debt raising is a sign of a company in need of quick money, with a more dire cash-raising exercise likely in coming months if its prospects don’t quickly improve.

看样子，近况不佳的江西赛维LDK太阳能<LDK.N>很快就会囊中羞涩了。这家公司刚宣布放弃债券融资计划，称市场环境恶劣。的确，天合光能<TSL.N>和尚德电力<STP.N>等行业领先者的股价最近也表现欠佳，过去三个月来都下跌了25%左右，而标普500指数在此期间大致持平。而同样在过去三个月里，LDK的股价跌幅更大，达40%。公司最新做出上述决定後，股价又跌了4%。消息人士称，这家问题缠身的公司很快就会急需现金，尽管公司在最新声明中称它“仍预计能产生足够的运营现金流来支持企业发展”。由於该公司将其多晶硅资产上市的计划目前显然已经搁浅，一切都不免让人担心这家公司在当前的现金危机面前还能撑多久。当然它还可以殊死一搏，比如以深度折让价格出售资产，甚至是更大的动作。未来几个月，请继续关注这场大戏如何发展。

一句话：江西赛维LDK太阳能放弃债务融资计划意味着这家公司即将出现现金短缺，未来几个月有可能被迫作出更激进的融资举措。

Related postings 相关文章:

◙ LDK Looking for Cash as Sales Dry Up 赛维LDK太阳能公司销量下滑 现金接近枯竭

◙ Italian Cloud Casts Shadow on Solar Sector, Pressures Beijing 意大利阴云笼罩中国太阳能产业

◙ LDK Needs More Than Hype to Brighten Its Bottom Line 赛维LDK：光靠作秀是不够的

Despite seemingly long odds against it due to resistance from local interests, China looks determined to force consolidation of its fragmented cable TV industry in a bid to create a viable force to promote  development of digital technologies and more offerings for content- and application-hungry consumers and businesses. Nearly half a year after launching the latest consolidation effort, the top man at China’s TV regulator is being quoted by local media as recently saying consolidation at the provincial level should be completed within 2 years, and a new national player will emerge shortly thereafter. (English article) I’ve seen a number of reports saying consolidation is underway in various provinces, though it’s always hard to tell if this is really happening or just wishful thinking. I previously pegged the chances for success of this latest initiative at 30-40 percent (previous post) but I might have to revise that figure upward to 50-50 in light of this new determination, following failure of a similar effort 5 years ago. From a business standpoint, such consolidation would benefit everyone, providing a big boost for programming makers like Huayi Brothers (Shenzhen: 300027) and video streamers like Youku (NYSE: YOKU). That, in turn, would create new business for not only the new national cable operator, but also China Telecom (HKEx: 728; NYSE: CHT) and China Mobile (HKEx: 941; NYSE: CHL), which are also working on digital TV offerings. Again, the major stumbling block is entrenched local interests that may try anything to avoid giving up their hold on local cable franchises.

Bottom line: Cable TV consolidation is gaining momentum, reflecting the government’s determination to make it happen, and now stands a 50-50 chance of success.

尽管因面临地方利益的抗拒而困难重重，但中国似乎决心对其呈现条块分割的有线电视行业进行强力整合，以推动数字技术的发展，更好地满足消费者需求。最新一轮整合行动进行近半年之後的今天，中国媒体援引行业监管部门领导近期的讲话说，应能在两年之内完成省级整合工作，一个新的国家级有线电视网将随後现身。我已看到一些报导称，多个省份都在进行整合，但很难说是的确有这麽回事，还是大家一厢情愿的想法。我以前曾预计此轮整合计划有三、四成的成功希望，但现在考虑到当局最新表现出的决心，我大概要把这一概率提高到五成了。从商业角度看，整合对各方都有好处，对於华谊兄弟<300027.SZ>和优酷<YOKU.N>等内容制造商来说更是个强心剂。内容提供方的利好消息又将意味着新国家级有线网络运营商和中国电信<0728.HK>和中国移动<CHL.N><0941.HK>等相关企业的新业务机会。当然，主要的绊脚石仍是根深蒂固的地方利益，它们将不计代价地力求保住自己对地方有线电视网的控制权。

一句话：有线电视业整合势头正劲，说明了政府的决心，目前的成功把握有五成。

Related postings 相关文章:

◙ China Makes Up Its Mind: Cable Consolidation 中国终於下决心：有线电视行业整合

◙ Tencent Looks to the Stars to Power Video Dreams 腾讯借力华谊 进军网络视频领域

◙ Tudou Smells Sweet as Video Sharing Purchase　　土豆网秀色可餐

Facebook just can’t take no for an answer. A top company executive has said that Facebook CEO and co-founder Mark Zuckerberg is planning a second trip to China to check out the market (English article; Chinese article), even after Beijing laid down three conditions that essentially told the social networking giant “you’re not wanted here.” (previous post) The executive said there’s no set date for Zuckerberg’s second trip, following a first one in December whiere he met with officials from Baidu (Nasdaq: BIDU), Sina (Nasdaq: SINA) and Alibaba, among others. If he’s really that determined to get to China and avoid Beijing’s three impossible conditions, the only route I see is through an M&A of an existing service. Such a strategy could be interesting, as there are quite a few candidates out there, most notably Sina’s Weibo microblogging service and Kaixin’s more traditional Facebook-like SNS service, that could be strong candidates for such a tie-up. Weibo, China’s equivalent of Twitter, is currently trying to find its way as an independent company after being cut loose from Sina (previous post), and could certainly use Facebook’s expertise. Likewise, Kaixin, which is moving towards its own IPO, is playing catch-up to recently listed Renren (NYSE: RENN), and was even approached by Facebook about an investment a year ago but declined. If Zuckerberg is really serious about China, look for some kind of major tie-up with an existing player perhaps before the end of the year.

Bottom line: Facebook’s determination to be in China could result in a major investment in an existing player, possibly Kaixin or Weibo, by the end of this year.

Facebook 不愿被拒绝。虽然中国政府列出了三个条件，让Facebook知道自己不受欢迎，但一位公司高管说，Facebook首席执行官扎克伯格仍打算再度访华，考察中国市场。这名公司高管说，扎克伯格下一次访华之旅行程还未确定。去年12月扎克伯格曾来到中国，与百度<BIDU.O>、新浪<SINA.O>和阿里巴巴等公司的高层会面。如果他真的一心一意想进军中国，同时绕开北京开出的三个苛刻条件，我认为唯一的途径便是并购一家现成的市场参与者。这种策略蛮有趣，因为确有很多候选者可供选择，尤其是新浪微博和开心网。新浪微博在逐渐摆脱对母公司的依赖後，正寻求成为一家独立公司，而且肯定可以从Facebook那里学到不少东西。开心网虽已在上市步伐方面落後于竞争对手人人网<RENN.N>，但一年前曾获得Facebook的青睐，只是当时拒绝了後者的投资意向。如果扎克伯格真的对中国恋恋不舍，那麽也许年底前我们就会看到Facebook与一家现成的中国市场主要参与者结成某种合作关系。

一句话：Facebook决意进入中国市场，可能会导致年底前它对开心网或新浪微博的大笔投资。

Related postings 相关文章:

◙ Beijing Deals Death Blow to Facebook China Plan – Source 中国宣判Facebook入华计划“死刑”–消息人士

◙ Facebook’s China Tie Up: No Big Deal Facebook能否入华？

◙ Snaptu: Facebook’s China Back Door? Facebook在中国走“後门”？

The following press releases and media reports about Chinese companies were carried on May 20. To view a full article or story, click on the link next to the headline.
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◙ Facebook CEO Zuckerberg Plans Second China Visit (Chinese article; English article)

◙ GCL-Poly (HKEx: 3800) Can’t Explain Six-Day Stock Slide, Says Business Is ‘Normal’ (English article)

◙ Home Inns (Nasdaq: HMIN) Announces Filing of a Shelf Registration Statement (PRNewswire)

◙ LDK Solar (NYSE: LDK) Announces Postponement of Proposed Offering of Senior Notes (PRNewswire)

◙ ZTE (HKEx: 763) Ranked No. 1 for Most International Patents Application in 1Q (Businesswire)

There’s an interesting story in today’s China Daily that indicates China, as the world’s largest energy consumer, is finally getting serious about trying to integrate itself with global markets rather than sit by and watch while others make the big decisions. According to the article, PetroChina (NYSE: PTR; HKEx: 857; Shanghai: 601857) Chairman Jiang Jiemin says his company, China’s largest oil producer, will open operation centers in Singapore, London and New York, in order to expand its overseas trading “to gain greater influence on the global stage.” (English article) All I can say is, congratulations Beijing and PetroChina for finally deciding to take a more active role in global markets that have such a direct impact on the domestic economy. Up until now, it seems like China has always taken a very passive role in such matters as global oil, metals and agricultural markets, preferring to let others make the big decisions and then only complain afterwards if it doesn’t like those decisions. A more assertive PetroChina should be good not only for the company and China as a whole, but also for global markets as the world’s largest energy consumer helps to rationalize some of these markets that at times can behave very irrationally. Maybe now we’ll start to see China’s other major commodities players start to engage more with the global markets they rely on so heavily.

Bottom line: PetroChina’s move to set up 3 global operations centers signals a new Beijing-backed willingness to engage with global markets, which should benefit both the company and China.

今天的《中国日报》有篇报导很有意思，显示中石油<0857.HK>终於改变观望态度，积极融入全球市场。据报导，中石油董事长蒋杰敏称中石油将在新加坡、伦敦和纽约建立运营中心，扩大海外交易，提升在全球舞台的影响力。我想说，恭喜中国政府和中石油终於决定更积极地融入全球市场了！目前为止，中国在全球石油、金属和农产品市场等问题上采取非常被动的态度，宁愿看着它方作出重大决策，然後如果感到不满再抱怨。中石油如今采取更坚定自信的立场，对该公司以及中国都有利，并且对全球市场也有好处，因为中国是全球最大的能源消费国，其积极参与能够帮助一些市场更理性化。也许未来中国会有更多大宗商品企业加强与全球市场融合。

一句话：中石油决定在海外设立三个运营中心，标志着其在政府支持下，更积极主动地融入全球市场，这对中石油和中国都是好事。

Related postings 相关文章:

◙ Sinopec, PetroChina Fight Back With ‘Pity Me’ Earnings 中石化、中石油上演苦肉计

◙ Sinopec Scandal Points to Big Oil Crackdown 中石化：“天价酒”事件实为敲山震虎？

◙ PetroChina Gets in Bed wtih Saudis to Secure Oil Supplies 中石油的沙特“情缘”